Carl Zeiss Meditec reports 12.2% decline in revenue in first quarter

JENA, Germany — Carl Zeiss Meditec reported a 12.2% decrease in revenue for the first quarter of its 2009-2010 financial year compared with the first quarter of the previous year, the company announced in a press release.

Revenue totaled €156.2 million in the first quarter compared with €177.9 million a year ago. The decline was attributed to the negative impact of exchange rate fluctuations, according to the release.

Earnings before interest and tax decreased 13.1% to €18.7 million.

The Europe, Middle East and Africa region generated the largest regional revenue share, at 37.4%. However, this was a 12.2% decrease compared with the previous year. Year-to-year revenue decreased by 12.5% in the Americas region and 11.6% in the Asia-Pacific region.

Revenue from surgical ophthalmology increased 1.1%, which was attributed to the expanded distribution of the company's multifocal lenses.

Ophthalmic systems generated the largest share of revenue, at 46.9%. However, first-quarter revenue in that unit declined 17.9% from the same period the previous year. Revenue from microsurgery declined 8.5%. Ophthalmic systems and microsurgery revenues were adversely affected by currency trends.

Revenue is expected to grow 0% to 5% this fiscal year, depending on market segment and region, the release said.

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